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Paymeon Q1 loss narrows YOY

Paymeon Inc. said its first-quarter normalized net income was a loss of $117,080, compared with a loss of $404,120 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue climbed year over year to $16,690 from $2,450, and total operating expenses decreased 68.6% on an annual basis to $150,570 from $479,720.

Reported net income totaled a loss of $187,330, or a loss of 1 cents per share, compared to a loss of $646,590, or a loss of 12 cents per share, in the prior-year period.